Payroll software implementation is not a one time event; especially when considered in the context of leveraging that payroll system to achieve objectives beyond simply paying employees on time. Rather, the true measure of an effective payroll solution requires an incremental approach; with successive steps designed to address an organization's goals along the way. Payroll software utilization and maturity is a continuous journey of improvements and advancements which collectively align payroll technology with ever-evolving organizational needs and increase capabilities, automation, information and analysis—and payroll software payback.
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Although a staggering amount of organizations are reticent to change their payroll software solutions, the fact of that matter is that a host of issues such as shifting business needs or legislative requirements can alter a payroll solution that at one time seemed perfect. Here we identify the four main factors that could prompt this type of change.
Mediocre payroll processes limit the benefits that payroll software can offer. By reviewing and updating processes to take full advantage of the available functionality, payroll can be transformed to the increased satisfaction of users and managers and the return on the technology investment can be maximized. Here are 4 tactics to achieve this maximization.
Payroll software implementation naturally includes training to support key users. As new issues are addressed and greater functionality is brought online though, new payroll application features will require additional user training. This article outlines the elements of what an effective payroll software post-implementation training strategy should look like in order to maximize ROI.
ROI is the ultimate judgment for any payroll software project; and organizations are often left wondering whether the purchase has generated the expected business benefits. However, knowing which metrics will produce an accurate and relevant ROI conclusion can be difficult; and sometimes it takes a closer inspection of the ROI process itself for those measures to be revealed.
Selection and implementation are crucial and often closely-managed phases of any payroll software solution project. What is frequently neglected is the immediate “aftermath” of the software go-live. This is the golden opportunity for early review and evaluation on a number of fronts which will help drive up usage and system effectiveness and therefore the project’s ROI.
The work of improving payroll performance may begin with a new software solution but in order to fully leverage all potential efficiencies, any technological revolution must be accompanied by an equally comprehensive review of the processes to be automated. This step-by-step review process offers an outline for a best practice-driven payroll process review.
The total cost of ownership (TCO) of administering payroll can be a complicated equation but most organizations start from an assumption that payroll software is overall helping to reduce costs. A recent PricewaterhouseCoopers (PwC) survey finds that not only has the average TCO risen in recent years but implementation may need to be more rigorous in order to net the expected savings.
Any corporate software depends on accurate data, but in payroll, the effects of poor data are most keenly felt in the employee’s paycheck. As the payroll system is enhanced or improved over time, the issue of data quality, security and integrity is always of fundamental concern. These four issues highlight the core payroll data issues in system management.